• Litecoin trades over 5% higher on Monday after sentiment bounces back.
  • The price has converged into a triangle pattern and the next target is 40.00.

LTC/USD 1-hour chart

Litecoin has been converging into a large triangle pattern on the hourly chart. The price is looking to head to the top of the pattern at the moment as some buying volume kicks in. Also on the bullish side, the price is above both 200 and 55 moving averages. The key resistance zone is 41.43, if the level breaks it would create a higher high wave. This could confirm the bullishness.

Looking slightly closer at the chart, the main resistance high is at 43.97. This could be the overall target if the triangle pattern breaks. If the pattern fails and the price falls to the downside 37.00 is the next support. Beyond that, 34.50 is the next support zone to keep an eye on. Lastly, the RSI is also showing signs of bullishness as its close to the overbought zone. There is still space to move higher and anything above 50 could be considered a positive thing.

Litecoin Triangle Pattern

Additional levels

LTC/USD

Overview
Today last price 39.1255
Today Daily Change 1.9991
Today Daily Change % 5.38
Today daily open 37.1264
 
Trends
Daily SMA20 38.246
Daily SMA50 56.4712
Daily SMA100 54.9983
Daily SMA200 55.3597
 
Levels
Previous Daily High 39.1718
Previous Daily Low 37.0298
Previous Weekly High 41.3987
Previous Weekly Low 34.5587
Previous Monthly High 84.4232
Previous Monthly Low 56.6073
Daily Fibonacci 38.2% 37.848
Daily Fibonacci 61.8% 38.3535
Daily Pivot Point S1 36.3802
Daily Pivot Point S2 35.6339
Daily Pivot Point S3 34.2381
Daily Pivot Point R1 38.5222
Daily Pivot Point R2 39.9181
Daily Pivot Point R3 40.6643

 

 


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